- Markets fully expected Fed will bring inflation down
- JOLTS data looks consistent with strong labor market moving to a more balanced phase
- FOMC d ecisions are ‘close calls’ for him as Fed tries to manage transition
- Need to see sustained, steady progress on inflation. I’m ‘closet optimistic’
I don’t know if he’s so much ‘closet optimistic’ as much as ‘flaming optimistic’ with his comments and victory lap yesterday.